James Quincey, CEO of Coca-Cola Co., speaking on "Squawk Box" at the WEF in Davos, Switzerland, on Jan. 18, 2023.
Inflation is moderating in most markets, after a stretch in which the beverage maker relied on price hikes to drive higher revenue, Coca-Cola CEO James Quincey said Tuesday.
But Coke's price hikes have slowed from the last two years' double-digit increases.
Coke's overall prices were up 9% in the fourth quarter, but Quincey said that came from hyperinflation in markets such as Argentina.
In the majority of Coke's markets, shoppers were only paying about 3.5% more for their drinks than they were a year earlier.
Persons:
James Quincey, Coke, Wall, Quincey
Organizations:
U.S . Department of Labor, Coke, Consumers, U.S, CNBC PRO
Locations:
Davos, Switzerland, Argentina, U.S, Europe